The hospitality services sector is a dynamic and essential part of the global economy, encompassing hotels, restaurants, resorts, travel, and tourism services. It plays a crucial role in promoting global tourism, supporting local economies, and providing millions of jobs. In 2024, the global hospitality market was valued at approximately $4.9 trillion, contributing around 4.7% of global GDP, and employing over 330 million people worldwide in roles ranging from hotel management to chefs and tour guides.

The sector is projected to grow at a CAGR of 6.1%, reaching $7.7 trillion by 2030, driven by the recovery of global travel post-pandemic, the rise of digital bookings, and increasing consumer demand for unique experiences. Leading players include the United States, with its large and diverse hospitality offerings; France, a global tourism hub; and China, which has seen rapid growth in both domestic and international travel services. Hospitality services continue to foster cultural exchange, employment, and economic development globally.